Problem 5-50 Amortization Schedule (LG5-9) Create the amortization schedule for a loan of $5,700, paid monthly...

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Problem 5-50 Amortization Schedule (LG5-9) Create the amortization schedule for a loan of $5,700, paid monthly over two years

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Answer 1

Answer #1

Please refer to below spreadsheet for calculation and answer. Cell reference also provided.

BC D E F G H Loan Amount APR $5,700.00 10% 2 Term(years) Monthly Payment $263.03 Month 13 14 16 Beginning Balance $5,700.00 $

Cell reference -

A B C D E | Loan Amount APR Term(years) 5700 0.1 2 Monthly Payment EPMT(C3/12,04*12,-C2,,0) DO YOU AWN- Month Beginning Balan

Hope this will help, please do comment if you need any further explanation. Your feedback would be highly appreciated.

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Answer 2

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